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US stock indexes opened trading on Wednesday, August 10, with the release of inflation data for the month of July, which came less than expected.
At the beginning of the session, the Dow Jones index jumped by 1.36% to 3321.8 points, the Nasdaq rose by 2.22% to 12,768 points, and the broader S&P500 rose 1.62% to 4188.48 points.
The annual inflation in the United States fell to 8.5% in July, compared to 9.1% in June, and its reading was less than expected with the easing of inflationary pressures, according to US data on Wednesday.
According to Dow Jones estimates, the US consumer price index was expected to rise 8.7% in July from a year ago.
Monthly, prices were flat and broadly energy prices fell 4.6% and gasoline fell 7.7%, offsetting a 1.1% monthly increase in food prices and a 0.5% increase in housing costs.
The inflation reading during the months of July, August and September will show the severity of the US Federal Reserve to raise interest rates during the coming period.
